A former high-producing Morgan Stanley team that had joined First Republics private wealth unit in January of this year left this week for JPMorgan, according to registration records.An earlier version of this story ran as breaking news in Financial Advisor IQ on Wednesday.A high-producing team of financial advisors that had joined First Republics private wealth unit just three months ago left this week for the embattled banks lead rescuer, JPMorgan, according to registration records.The multi-office team, led by 29-year industry veteran Eric Yamin in Miami and 11-year broker Keith Caparelli in New York, made the leap to JPMorgans wealth management unit on Tuesday, according to BrokerCheck. They had joined First

A former high-producing Morgan Stanley team that had joined First Republics private wealth unit in January of this year left this week for JPMorgan, according to registration records. An earlier version of this story ran as breaking news in Financial Advisor IQ on Wednesday. A high-producing team of financial advisors that had joined First Republics private wealth unit just three months ago left this week for the embattled banks lead rescuer, JPMorgan, according to registration records. The multi-office team, led by 29-year industry veteran Eric Yamin in Miami and 11-year broker Keith Caparelli in New York, made the leap to JPMorgans wealth management unit on Tuesday, according to BrokerCheck. They had joined First Republic in early January after a three-year stint at Morgan Stanley. The team had generated about $7 million in annual revenue from $700 million in client assets, according to an AdvisorHub report on the groups prior move. Yamin had been ranked ninth on Forbes 2022 list of top private wealth advisors in the Miami area, and he and Caparelli were each named managing director at First Republic, according to the companys January announcement of their hire. As of Wednesday morning, Yamin was listed as a managing director and Caparelli as an executive director on their teams JPMorgan website. The group also includes staffers Tammy Cisneros, Brendan Ramusevic and Keegan Giordano, according to the site. A spokesperson for JPMorgan declined to comment on the hires or whether the bank had actively recruited the team. JPMorgan last month had told staff that they "should never give the appearance of exploiting a situation of stress or uncertainty," according to an internal memo, excerpts of which were seen by Reuters. "We do not make disparaging comments regarding competitors." Executives in the firms consumer and business banking division told branch employees that they "should refrain from soliciting client business from an institution in stress," the newswire reported, citing the memo. JPMorgan, along with Bank of America, Wells Fargo and Citigroup, was among the 11 banks that agreed to contribute a total of $30 billion in uninsured deposits to support First Republic after a run on the banks deposits in the wake of Silicon Valley Banks failure in March. Yamin first registered in 1994, with Oppenheimer, moved three years later for an initial tour of duty with Morgan Stanley and in 2008 moved to UBS, according to BrokerCheck. He left UBS for his second go-around with Morgan Stanley in 2019, according to the database. Caparelli first registered at UBS, in 2011, and also made the 2019 jump to Morgan Stanley, according to BrokerCheck. A spokesperson for First Republic on Wednesday declined to comment on the departure of the Yamin-Caparelli team but told FA-IQ that the "overwhelming" majority of the banks wealth managers have chosen to stay with the firm. "Our colleagues and clients continue to appreciate the unique benefits of First Republics integrated banking and wealth management model and our culture of extraordinary service," the spokesperson said in an emailed statement. First Republic, which through the start of this year had been an aggressive recruiter of financial advisors from the wirehouses and other bank-owned wealth businesses, tallied about 200 advisors and north of $270 billion in total client assets at the end of 2022. However, advisors have been exploring their options since March amid concerns that the bank was in danger of collapsing in the wake of the Silicon Valley Bank failure and other industry turmoil. Many have jumped to Morgan Stanley since mid-March, but RBC Wealth Management, UBS and Rockefeller Capital Management have also picked up defecting teams. Earlier this week, a four-member advisor team that oversaw nearly $770 million in assets at First Republic joined Morgan Stanley, according to a Wednesday report in FA-IQ sister publication FundFire. A Walnut Creek, California-based team led by advisor Jeffrey Coburn joined the wirehouse on April 6, according to the FundFire report. Coburn had spent nearly a decade at First Republic, according to BrokerCheck. A spokesperson for Morgan Stanley told FundFire that Coburn and his team were not solicited.

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JPMorgan Picks Up FA Team That Had Newly Joined First Republic

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JPMorgan | Eric Yamin | Keith Caparelli | Financial Advisor | Americas

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Head of Technology, Media and Telecommunications, China

Ruo is the Chief Financial Officer at SHOPLINE, a position he has held since June 2023. Previously, he served as Group Co-Chief Financial Officer at Fosun 复星 from September 2022 to June 2023. Prior to that, he was the Chief Financial Officer at Xiaohongshu from February 2021 to September 2022. Ruo also worked at Citi as a Managing Director in TMT Investment Banking from August 2010 to February 2021 and was a Manager at EY from May 2005 to July 2010. Earlier in his career, he was a Senior Associate at PwC from September 2000 to August 2003. Ruo completed his education at the University of Notre Dame.

One of JPMorgan Chase & Cos most senior executives in the Middle East has left after 28 years with the bank. Asif Raza, who ran the banks corporate banking division for Central and Eastern Europe, Middle East and Africa, has retired from the firm, a spokesperson said. He played a central role in expanding the banks presence in Saudi Arabia, as well as opening offices in Abu Dhabi and Doha. After joining Chase Manhattan Bank in New York in 1996, Raza worked in London and Singapore, before moving to Dubai in 2008 as the head of treasury and security services for the Middle East and North Africa region. In 2014, Raza was named head of JPMorgans corporate bank in the Middle East and North Africa, a role that was expanded in 2019 to include his most recent responsibilities. The New York-based firm said this month that it is setting up a private banking team in Dubai to capitalise on the influx of millionaires to the emirate. It has also won a number of investment banking mandates in recent months, including the initial public offering of a major food delivery service.

JPMorgan Senior Executive Asif Raza Retires After 28 Years

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JPMorgan Chase has named David Bauer as its new co-head of equity capital markets in the Americas, according to an internal memo seen by Reuters on Wednesday. Bauer, who joins the largest U.S. bank from private equity giant KKR, will lead the unit along with Keith Canton, the memo said. He has spent six years at KKR as the ECM head of the investment firm. Bauer was previously employed for 13 years at investment banking powerhouse Goldman Sachs. Banks are gearing up for a meaningful recovery in the U.S. market for new listings after a two-year slump kept high-profile startups on the sidelines. Secondary share sales, already on the road to recovery, are also expected to see a boost in activity after the U.S. Federal Reserve eases monetary policy and market jitters settle. JPMorgans second-quarter profit beat estimates in July, helped by a resurgence in dealmaking and strong capital markets. Investment banking fees surged 50% in the quarter.

David Bauer Joins JPMorgan as Co-Head of Equity Capital Markets

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David is the Managing Director and Head of Equity Capital Markets at KKR & Co. Inc., a position he has held since January 2019. Prior to joining KKR, he worked at Goldman Sachs from July 2007, where he progressed through various roles including Managing Director, Vice President, Associate, and Analyst.

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